'Valentino' comes to India

New Delhi, Aug 5 (UNI) Italian luxury haute couture brand Valentino, which deals with a portfolio of products including clothes, accessories and footwear, has forayed into India with its first showroom inaugurated here today.

The Marzatto Group that owns Valentino and other brands like Hugo Boss, Missoni and Marlboro Classics, has entered into a franchising and licensing agreement with Mafatlal Luxury (P) Ltd.

''As of now, the tie-up with the Mafatlal Group is exclusively for the Valentino brand,'' Valentino CEO Michele Norsa told reporters.

With India on the verge of a luxury boom, there is a big potential in the luxury market here, Mr Norsa said, adding that India is likely to become one of the major fashion hubs in the next five to ten years.

The international brand, which sells products ranging between Rs 20,000 to Rs 3,00,000 apiece, is keen to expand its India presence in Mumbai too by the end of 2007, Sheetal MafatLal, President of the MafatLal Luxury said.

Valentino includes brands like Valentino, Valentino Garavani, Valentino Roma and R E D Valentino.

The Valentino Fashion Group operates in over 1,000 countries, with more than 1,200 single-brand boutiques and 208 directly-managed shops.

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